VAIV company Inc. announced a private placement of series bearer-bearing interest-bearing, unsecured private placement convertible bonds for a gross proceeds of KRW 10,500,000,000 on December 7, 2023. The transaction will include participation from NH Investment & Securities Co., Ltd.(From the status of trust business operator of the first multi-strategy general private equity investment trust) for KRW 300,000,000; NH Investment & Securities Co., Ltd.(From the status of trustor of One KOSDAQ Venture Multi-Strategy General Private Investment Trust No. 7) for KRW 300,000,000; NH Investment & Securities Co., Ltd.(From the status of trust business operator of the original KOSDAQ Venture General Private Investment Trust No.

8) for KRW 4,400,000,000; NH Investment & Securities Co., Ltd.(From the position of the first trust business of Lambda FIRST KOSDAQ Venture general private equity investment trust) for KRW 1,000,000,000; NH Investment & Securities Co., Ltd.(From the status of a trust business of Aone Value Up KOSDAQ Venture General Private Investment Trust No. 2) for KRW 150,000,000; NH Investment & Securities Co., Ltd.(From the status of a trust business operator of A1 Mezzanine Balanced General Private Investment Trust No. 2) for KRW 400,000,000; NH Investment & Securities Co., Ltd.(From the status of a trust business of A-One Mezzanine Plus General Private Investment Trust No.

2) for KRW 800,000,000; NH Investment & Securities Co., Ltd.(From the position of a trust business of Aone Prime KOSDAQ Venture General Private Investment Trust) for KRW 1,400,000,000; NH Investment & Securities Co., Ltd.(In the position of a trust business of Aone Platinum KOSDAQ Venture General Private Investment Trust) for KRW 550,000,000; Samsung Securities Co., Ltd.(Aone The banks 1 in the position of a trustor of a general private equity investment trust) for KRW 700,000,000; Mirae Asset Securities Co., Ltd.(In the position of a trustee of Spinnaker The Venture general private equity investment trust for KRW 500,000,000. The bonds have yield to maturity of 2%. The bonds will mature on December 8, 2028.

The bonds will be 100% converted into 1,484,728 common shares at a fixed conversion price of KRW 7,072 per share for an equity stake of 12.05%. The conversion period is from December 8, 2024 to November 8, 2028. The securities issued in the transaction are subject to a lock up period of one year.

the transaction has been approved by the board of directors of the company.